I agree forsale. People think of immigrants running across the border. I’m talking about immigrants coming to America with money and would rather put that money into something they can see like a house than a bank account where Uncle Sam can tap at them. Not Indian families working in high tech but familes from Hong Kong. Property in Hong Kong is so expensive that San Diego looks like a low rental community compared to it.
Please do me a favor. Go to any community that are still touring model homes and note who you see there. You will no doubt see about 75% asian families. Like people said. They spend smart, they save and they double the opccupancy to take the sting out of the mortgage. Most have money from China and Hong Kong. There are still a huge amount of Honk Kong people leaving because of the Chinese influence and do not want to leave their cash in a communist system.
The inital growth was due to flippers and people looking to upgrade. Now it is sustained through money from outside of the US. These people are not dumb and are not going to move to San Ysidro or east county. They know what the good areas are and they settle in there.
Like someone said earlier. In the chinese culture, owing a home shows that you are responsible and it is not uncommon for a newly married couple to have their parents living with them.
Visit these communities and you will see light of day. Now don’t get me wrong. I have no issues with asian families. They are quiet, respectful and very helpful. You won’t see an asian family having a BBQ until 2 am on a wednesday night keeping up all the neighbours like someone straight out of Texas. They respect their neighbors and their home.
